The Economic and Financial Crimes Commission (EFCC) has arrested Fred Ajudua, a well-known Lagos businessman and former socialite, over a fraud case of $1.43 million.
The arrest took place in Abuja on Tuesday, just days after the Supreme Court revoked Ajudua’s bail and ordered that he be taken into custody.
The court gave the ruling on Friday, May 5, 2025.
An EFCC official who spoke with Vanguard on Tuesday evening confirmed the news but asked not to be named.
“Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Lagos-based socialite and businessman Fred Ajudua, pending his re-arraignment for an alleged $1.43 million fraud. He was arrested in Abuja on Tuesday and is currently in EFCC custody,” the source revealed.
This arrest adds another chapter to Ajudua’s long legal history with the EFCC. His troubles began in the 1990s when he was first linked to multiple advance-fee fraud cases. Despite several court cases, he remained free on bail until now.
The Supreme Court’s decision came after it reviewed a previous ruling by the Lagos Division of the Court of Appeal, which had allowed Ajudua to remain on bail.
Reports suggest that Ajudua may have gone into hiding after the court ruling.
His legal issues go back more than 30 years. In 1993, he was accused of scamming a German businessman out of $1.43 million. Other claims followed, including allegedly cheating two Dutch nationals of $1.69 million between 1999 and 2000. In 2004, he was also accused of defrauding a former Chief of Army Staff, Lt.-Gen. Ishaya Bamaiyi, of $8.4 million while they were both in Kirikiri Prison.
The EFCC filed a 28-count charge against Ajudua in 2016, accusing him of conspiracy and obtaining money by false pretence. The case has faced several delays over the years, including health-related bail requests and an unsuccessful arrest attempt in 2007.
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